Intel Acquires Silicon Hive, a Spin-Out From Philips
Silicon Hive, a start-up born and incubated inside the Dutch electronics concern Philips and spun out in 2007, has been acquired by chip giant Intel. Financial terms were not disclosed. The deal was announced by New Venture Partners, a venture capital firm that specializes in spun-out companies and which led a $10 million Series A in Silicon Hive in 2007 with TVM Capital and Philips. Intel Capital led an additional $7 million round in 2008. Silicon Hive designs and licenses chips used in imaging, video processing and communications, aimed at smartphones and consumer electronics.